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Tax Changes: Precious Metals Treated as Qualifying Income for Investment Funds.

This Act amends tax rules for Regulated Investment Companies (RICs), treating income from precious metals the same way as income from foreign currencies. For citizens, this means investment funds can more easily include precious metals like gold or silver in their portfolios without losing their favorable tax status. This change could increase the availability and diversity of precious metal-based investment products for the average investor.
Key points
Income received by Regulated Investment Companies (RICs) from precious metals will be treated as qualifying income.
The change makes it easier for investment funds to hold precious metals, potentially leading to new investment options for citizens.
The amendments apply to taxable years beginning after the date the Act is enacted.
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Additional Information
Print number: 118_S_4014
Sponsor: Sen. Cortez Masto, Catherine [D-NV]
Process start date: 2024-03-21
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Precious Metals Parity Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_4014.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-03-21.

What are the main provisions?

Key points include:

  • Income received by Regulated Investment Companies (RICs) from precious metals will be treated as qualifying income.
  • The change makes it easier for investment funds to hold precious metals, potentially leading to new investment options for citizens.
  • The amendments apply to taxable years beginning after the date the Act is enacted.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Cortez Masto, Catherine [D-NV].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Taxes Economy